On Accepting Fifth Tranche OVGVZs for Redemption

22 january 2008 года
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In accordance with the Terms of Issuing OVGVZs approved by Resolution of the Russian Government dated March 15, 20003 N 222, maturity date for fifth tranche OVGVZs falls on May 14, 2008.

 

At present, Vnesheconombank’s Custody Department accepts OVGVZs from their holders to pay the last coupon and redeem the said bonds.

 

In accordance with the Terms of Issuing OVGVZs, acceptance of fifth tranche OVGVZs to pay the last coupon is to be terminated a month before the bonds’ redemption, that is, Vnesheconombank’s Custody Department is to accept fifth tranche OVGVZs till April 11, inclusive. After the said date till May 14, 2008 Vnesheconombank’s Custody Department is to terminate all transactions in the said bonds. Vnesheconombank is to start accepting fifth tranche OVGVZs to make coupon payments and redeem them on May 16, 2008. The period for presenting bonds and coupons for payment is set at 10 years as from the end of the calendar year in which the maturity date for relevant bonds and coupons comes due.  For fifth tranche OVGVZs this period is to end on December 31, 2018.

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Vnesheconombank Deputy Chairman Appointed

17 january 2008 года
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Mikhail Sinelin has been appointed as State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Deputy Chairman.

Earlier Mikhail Sinelin was the Head of the Russian Prime Minister’s Secretariat.

In Vnesheconombank Mikhail Sinelin will be in charge of working with the federal executive authorities.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail” press@veb.ru

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Agreement between Vnesheconombank and JSC Sovcomflot

15 january 2008 года
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Today, on January 15, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and JSC Modern Commercial Fleet entered into an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and JSC Sovcomflot General Director Sergei Frank.

The Agreement aims to establish partner relations and promote long-term, effective and mutually beneficial cooperation in shipbuilding, shipping including sea transportation, purchase and operation of ships.

Under the Agreement VEB intends to participate in working out schemes for financing and carrying out investment projects in the said sectors as well as in raising funds to finance projects provided that they are in line with the Memorandum on Vnesheconombank’s Financial Policy.

The Agreement is aimed at fulfilling the tasks set by the Federal Target Program “Main Lines of Civil Sea-Going Ships Development for 2009-2016” and would help develop transport infrastructure associated with the maritime industry.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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On Financing Supplies of Russian Aircraft to Cuba

9 january 2008 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and its subsidiary – Roseximbank as well as the Bank for Foreign Trade (VTB) completed extending credits within the credit line opened in 2008 for Cuban Company Aviaimport S.A. to finance contracts for purchasing Russian Il-96-300 and Tu-204 aircraft for the Republic of Cuba. The Cuban borrower used the third and fourth tranches of the credit line in the amount of 67.5 million US dollars (the total sum of the credit line is 203.4 million US dollars) to pay for the supply of two medium-distance Tu-204-100E airliners.

Under the state program of providing financial support for industrial exports in 2005-2007 two transactions in selling three Il-96-300 and three Tu-204 aircraft for the total amount of 300 million US dollars were conducted. Credits extended by the banks to finance the contracts provided employment for more than 15 thousand workers at the Voronezh Aviaconstruction Association, OJSC Aviastar (Ulyanovsk) and allied factories and allowed them to increase their production program in 2005-2007 by more than 50%.

 

Origin: Press Office Of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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CJSC “Ernst and Young Vneshaudit” Approved as the Auditor of Vnesheconombank’s Annual Financial Statements for the Year 2007

27 december 2007 года
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The Supervisory Board of State Corporation State Corporation ‘Bank for Development and Foreign Economic Affairs’ (Vnesheconombank) approved CJSC Ernst and Young Vneshaudit as the auditor of Vnsheconombank’s annual financial statements for the year 2007.

The minutes of the voting meeting of Supervisory Board members N7, dated December 18, 2007 was signed by Supervisory Board Chairman – Russian Prime Minister Victor Zubkov.

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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